From Nasdaq:

JD.com investors were hoping for a better year, but the stock fell sharply on the first day of trading in 2024 amid comments from President Xi Jinping and weak economic data. JD shares finished down 5.9%, while the Nasdaq Golden Dragon Index was down 3.5%.

President Xi’s New Year’s speech and a disappointing PMI report led to the sell-off in JD and China stocks, with factory activity falling to its lowest level in six months. Xi acknowledged the struggles but expressed optimism about China’s economic recovery.

It’s not surprising to see JD shares selling off given the company’s reliance on the overall health of the Chinese economy and lack of exposure to international markets. Its recent disappointing financial results make the situation more challenging.

The struggling Chinese economy poses a challenge for JD.com, which may need to become more competitive and price-competitive with its peers in order to deliver growth.

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and JD.com wasn’t one of them. The analyst team has repeatedly tripled the return of S&P 500 since 2002*. A forecasting method to analyze stock market trends.



Read more: Why JD.com Stock Started Off 2024 on a Down Note